Got an extra-ordinary residential case?

Solution Found.

Our residential range

 

For your residential clients with extra-ordinary circumstances, we are here to help you get them a mortgage.

We’re delighted to help self-employed workers, recent job changers, unusual income earners, clients with credit blips or other credit score declines, and first-time buyers.

We’ll aim to accept a wide variety of your clients’ income sources to maximise their borrowing power, and can offer them a comprehensive product range, with flexible criteria.

Watch the video for more on who we can help you with, discover our key criteria below, or look at some of the specific solutions we have found for other extra-ordinary clients.

Key criteria

Who for?

  • Recently self-employed – latest / 1 year’s accounts accepted
  • Self-employed – directors, partners and contractors; retained profits considered
  • Employed - no minimum term in current job (minimum 3 months employed)
  • Clients with multiple and unusual income sources
  • Holders of credit blips / lower credit scores - view our criteria tiers
  • First time buyers

How much?

  • Maximum loan £2m
  • Maximum term 40 years
  • Maximum age 75 at end of term
  • No minimum income
  • Maximum number of applicants is 4 (immediate family)

What for?

  • Capital and repayment mortgages up to 80% LTV
  • Interest only, affordability calculated on an interest only basis up to 70% LTV
  • Capital raising for buy to let purchase accepted
  • A part and part mortgage up to 80% LTV

Income considered

Criteria that applies to all applicants

  • Up to 100% of bonus and/or commission accepted
  • 100% Retirement income
  • 100% Investment income
  • 100% Trust income
  • 100% Net rental income
  • 100% Maintenance income (court order)
  • 100% Maternity and paternity income

Most popular residential product

2 year fixed rate,
2 year fixed rate, 65% LTV, 2.99%
Most recent update to our residential range
Competitive initial rates at 60% loan to value are now available up to 65% LTV, and a new £2 million maximum loan size has been introduced up to 65% LTV, rates have been reduced across all F1 & F2 products at 75% LTV reductions, and all initial offer dates have been extended across the range.

Useful guides

Residential criteria guide Residential product guide

Resi calculator

Affordability calculator

A case to place?

Submit a case Register to do business with us Contact your BDM

Broker testimonials

Efficient and flexible

"Efficient service. Flexible criteria with a competitive rates. Will use again"

Graham Morris, Finance Planning Mortgage & Protection Solutions

Common sense lending

“Common sense lending, not tick box, would definitely use again and thoroughly recommend.”

Rachel Lummis, Xpress Mortgages

Refreshing

“Excellent support & service from the team at Foundation! So refreshing to work in partnership with a lender who values brokers as well as clients!”

Kim McGinley, VIBE Finance

Very good and reliable

“This was the first case I placed with Foundation and found them to be very good and reliable! The service from David Wheatley the office BDM was particularly good.”

Claire Taylor, Protego Mortgage Planning

Refreshing

“Excellent support & service from the team at Foundation! So refreshing to work in partnership with a lender who values brokers as well as clients!”

Kim McGinley, VIBE Finance

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Credit blips explained

 

We consider clients with blips on their credit rating and other credit score declines. Our residential mortgages are split into three tiers, F1, F2 and F3. Please use the table below to see which tier your client with a credit blip would fit into.

F1 Product F2 Product F3 Product
Defaults & CCJs

All defaults and CCJs must be satisfied irrespective of when they occured, unless otherwise stated

CCJs
0 in 36

All CCJs must be fully satisfied at the time of application

Defaults
0 in 36

Defaults within the last 36 months are considered but only where the cumulative value is below £250 and relates to mail order, comms and utilities

Mortgage arrears
0 in 36
Credit cards, Mail Order, Comms & Utilities

Worst status of 2 per account in the last 36 months with 0 in the last 12 months

Unsecured loan arrears
0 in 36 months
Bankruptcy & IVAs

None registered against any borrower

Defaults & CCJs

All defaults and CCJs must be satisfied irrespective of when they occurred, unless otherwise stated

CCJs
0 in 24

1 unsatisfied (if older than 24m) to the value of £200 otherwise must be satisfied at application

Defaults
0 in 24

Defaults within the last 24 months are considered but only where the cumulative value is below £250 and relates to mail order, comms and utilities

Mortgage arrears
0 in 36 months
Credit cards, Mail Order, Comms & Utilities

Up to date on application Worst status of 2 per account in the last 24 months

Unsecured loan arrears

Up to date on application Worst status of 1 per account in the last 24 months

Bankruptcy & IVAs

None registered against any borrower

Defaults & CCJs

All defaults and CCJs must be satisfied irrespective of when they occurred, unless otherwise stated

CCJs
0 in 12

1 unsatisfied (if older than 12m) tot he value of £200 otherwise must be satisfied at application

Defaults
0 in 12

Defaults within the last 12 months are considered but only where the cumulative value is below £250 and relates to mail order, comms and utilities

Mortgage arrears
0 in 36 months
Credit cards, Mail Order, Comms & Utilities

Up to date on application Worst status of 2 per account in the last 12 months

Unsecured loan arrears

Up to date on application Worst status of 2 per account in the last 24 months

Bankruptcy & IVAs

Bankruptcy discharged or IVAs satisfied 3 or more years ago are considered

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© 2018 Foundation Home Loans is a trading style of Paratus AMC Limited. Registered Office: No.5 Arlington Square, Downshire Way, Bracknell, Berkshire RG12 1WA.

Registered in England with Company No. 3489004. Paratus AMC Limited is authorised and regulated by the Financial Conduct Authority.

Our registration number is 301128.
Buy to let mortgages are not regulated by the Financial Conduct Authority.
Calls may be monitored and recorded.